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Old 03-23-2007, 02:33 PM
Arnfinn Madsen Arnfinn Madsen is offline
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Join Date: Jan 2005
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Default Re: Thoughts and questions concerning Venezuela

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Correct me if I'm wrong, but the petroleum fund is only used for a portion of the profits, and deposits are in the 10-20 billion per year range, leaving more than 60 billion + in oil/gas money being pumped into the Norwegian economy annually.

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You are wrong, in 2006 288 billion NOK was transfered to the fund (47,2 billion $ by today's exchange rate). That is estimated 81% of the government's income from oil (estimate due to the income figures not being final). The oil price is fluctuating so much so if you take the GDP-numbers from 1 year and the allocation of funds from another year, your answer can be totally wrong.

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